LGI Homes Inc (NASDAQ:LGIH) CFO Charles Michael Merdian sold 16,967 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $63.80, for a total transaction of $1,082,494.60. Following the completion of the sale, the chief financial officer now directly owns 100,497 shares of the company’s stock, valued at approximately $6,411,708.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of LGIH stock opened at $67.46 on Wednesday. The stock has a market cap of $1,456.06, a PE ratio of 14.23, a PEG ratio of 0.97 and a beta of 0.31. LGI Homes Inc has a 52-week low of $28.57 and a 52-week high of $79.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 9.16 and a quick ratio of 1.16.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.03. The company had revenue of $405.00 million during the quarter, compared to analysts’ expectations of $377.46 million. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. LGI Homes’s quarterly revenue was up 71.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. sell-side analysts forecast that LGI Homes Inc will post 6.1 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. lifted its position in LGI Homes by 384.7% during the fourth quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,154 shares during the period. Meadow Creek Investment Management LLC bought a new stake in LGI Homes during the fourth quarter worth about $172,000. Midas Management Corp bought a new stake in LGI Homes during the fourth quarter worth about $191,000. CAPROCK Group Inc. bought a new stake in LGI Homes during the fourth quarter worth about $217,000. Finally, SG Americas Securities LLC bought a new stake in LGI Homes during the third quarter worth about $199,000. 84.84% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. BidaskClub cut shares of LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Zacks Investment Research cut shares of LGI Homes from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Wedbush raised shares of LGI Homes from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $59.51 to $73.00 in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.50.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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